Business

Market Movers

Netflix rival’s clout questioned

Reed Hastings is CEO and founder of Netflix. The shares have gained 6.1 percent this year.

Getty Images for Netflix/File 2011

Reed Hastings is CEO and founder of Netflix. The shares have gained 6.1 percent this year.

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Netflix Inc. advanced to the highest price in more than two months after Morgan Stanley upgraded the stock to “overweight,” the equivalent of “buy,” saying that competition from Amazon.com’s Prime Instant service is ‘‘overblown.” Amazon would probably have to spend as much $1.2 billion more to match Netflix’s content, the firm said.

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